YPB: Consumers Will Travel More, But Still Voice Concerns

WASHINGTON, DC— The Yesawich, Pepperdine & Brown/Yankelovich Partners 2002 National Travel Monitor indicates that while both business and leisure travelers expect to travel more in the coming months, lingering concerns about the economy are still hindering travel. The results of the survey were calculated from nationally representative polls of 1,351 leisure and 1,200 business travelers taken during the first quarter of 2002. All estimates are accurate to within +/-2.8% at the 95% level of confidence, said YPB. The results of the survey reveal that over one-third of leisure travelers plan to take more trips in the next year, translating into a six percent increase in leisure trips taken by Americans if the plans expressed by those surveyed actually come to fruition. Other findings of the survey indicate: • 36% say they will take more trips than last year. • 39% expect to take the same number of trips as last year. • 25% say they will take fewer trips than last year (or no trips). The future intentions of business travelers were even more optimistic. Over four out of 10 business travelers plan to take more business trips in the coming year, compared to 22% who expect to take fewer trips. Overall, the results suggest there will be an eight percent increase in business trips this year versus last. Concerns about the sluggish U.S. economy remain the primary deterrent to the travel industrys full recovery, said YPB. Among leisure travelers who plan to travel less, “current economic conditions and financial reasons” were cited as the reason why by 37%. Only five percent of leisure travelers said air travel is now “too big of a hassle,” and just four percent believe it is not safe to fly. For business travelers, the economy is by far the major concern. Nearly four in 10 business travelers who plan to take fewer trips in the year ahead cite “company restrictions because of concerns about the economy” (22%) and that “current economic conditions make it difficult to travel” (15%). Only three percent say air travel is now “too big of a hassle,” and less than one percent feel it is unsafe to fly. Both percentages represent a dramatic decline from the level of concern expressed about the same issues in four other national surveys conducted by Yesawich, Pepperdine & Brown since September 11th. The introduction of increased security measures at the nations airports has added to the frustration of business travel. Specifically, 32% of business travelers feel that the new security procedures make business travel “a big hassle,” and 18% actually report flying less because of the associated inconvenience. The 2002 National Travel Monitor also reveals that Americans are becoming more comfortable with the use of the Internet to make travel plans and purchase travel services. This is particularly true for leisure travelers, 53% of which now report using the Internet during the previous 12 months to obtain information or rates online (up from 47% last year). More than half (55%) of business travelers consulted the Internet to obtain information, fares and rates during the past 12 months, the same percentage as last year. Other findings of the report indicate: • 39% of travelers who go online and use travel agents think the Internet is easier and faster to use for travel planning than a travel agent. Forty-four percent of business travelers feel the same way. • 32% of leisure travelers actually made a reservation online during the past 12 months. Among business travelers, the percentage was 33. • 90% of both leisure and business travelers state that the website feature they value most is “being able to check the lowest rates for airfare, hotels and car rental companies.” When it comes to vacation preferences, the results of the survey reveal continued interest in destinations that consumers “have never been to before,” (81%), beach experiences (67%), visiting arts/architectural and historic sites (51%), destinations t